Venable Shouldn't Shake $11M Facebook IPO Suit, ESG Says

Law360, New York (May 21, 2013, 2:08 PM EDT) -- ESG Capital Partners argued on Monday that a legal malpractice suit against Venable LLP should stick, alleging that the law firm helped a known con man defraud the investment manager of $11.2 million by falsely promising to secure ESG pre-IPO Facebook shares.

The investment manager fired a response on Monday to Venable's bid to dismiss the case earlier this month, arguing that the firm and its former partner, David Meyer, knowingly aided Troy Stratos in creating a false identity, “Ken Dennis” and a fake holding company,...